2 Friends Mine 15.34-Carat Diamond Worth Rs 50 Lakh In Madhya Pradesh

Two friends -- 24-year-old Satish Khatik and 23-year-old Sajid Mohammad -- recently leased a mine in the diamond-rich soil of Madhya Pradesh's Panna, hoping to discover a gem that would help them overcome their financial crisis and arrange funds for their sisters' weddings.

Their wish has now come true, with the duo discovering a 15.34-carat, gem-quality diamond estimated to be worth Rs 50 lakh.

"Our first priority is to get our sisters married," the two friends, both residents of Raniganj in Panna, said.

While Satish runs a small meat shop, Sajid works at a fruit stall.

Sajid's grandfather and father had also reportedly tried their luck for decades, but with limited success.

"The two had mined a precious diamond in Krishna Kalyanpur just 20 days ago and deposited it at the Panna Diamond Office today. The diamond is estimated to be worth over Rs 50 lakh," news agency PTI quoted diamond officer Ravi Patel as saying on Tuesday.

This precious diamond will be put up for auction in the upcoming auction, he said.

Panna: The 'City Of Diamonds'

Panna is known as the city of diamonds and has changed the fortune of many people.

Last month, six farmers had discovered five diamonds, three of them of gem quality, valued at nearly Rs 12 lakh.

Brijendra Kumar Sharma, Vinod Omre, Ramkaran Nayak, Suryabhan Singh, Gulab Singh, and Pushpendra Pathak had also leased a small mining plot in June.

A diamond expert examined the stones and said that they weigh 0.74 carat, 2.29 carat, 0.77 carat, 1.08 carat, and 0.91 carat.

This year, more than 60 diamonds have so far been deposited at the Panna diamond office.

Panna district, located in the Bundelkhand region, is estimated to have diamond reserves of 12 lakh carats.

An eight-metre mining plot is reportedly leased for Rs 200 annually. Diamond auctions are held every three months with traders from across the country participating.

The final auction price is reportedly subject to a 12 per cent government deduction, including 11 per cent royalty and 1 per cent Tax Deducted at Source (TDS), with the remaining amount given to the discoverer.